Team Lead Portfolio Services, Officer

State Street.
Boston, Massachusetts
Not disclosed
24 Jun 2022
07 Jul 2022
Contract type
Full time
Experience level
Qualified accountant

Who we are looking for

The member of the Portfolio Services Middle Office team will collaborate with a team that is monitoring assigned accounts for issues associated with cash, settlements, ad-hoc processing, reporting and pre/post cycle reviews.The individual will review various reconciliations to flag issues and high fluctuations in accounts, using existing checks and implementing new checks when needed. The individual is expected to work with little to no oversight, identify and resolve trends, and educate and train staff on new issues once appropriate research has been completed. This is a client-facing role and the Officer will be expected to speak to the customer’s management team on relevant issues as they may arise.

State Street Middle Office is responsible for outsourced service provision through leading edge technology and services for its clients. State Street Corporation (SSC) has demonstrated excellent success in recent times with major client wins covering in excess of 10 locations worldwide, including UK, Europe, India and USA, for the outsource arrangements of Fund Accounting and Investment Operations.

Why this role is important to us

Our team is vital to the smooth operational functioning of a key customer who utilizes State Street’s middle office services, and we help ensure correct data and insights to our client’s portfolios on a daily basis.

What you will be responsible for

As Portfolio Services Officer you will

  • Using provided tools, review assigned accounts for issues associated with cash (overdrafts, reconciliation), positions (trades, other).
  • Identify data or account trends for discussion in group meetings, and propose control mechanisms or operational improvements via procedures resulting from such.
  • Interact professionally with all middle office teams (e.g. Income, Corporate Actions, Trade Management, Performance), as well as with 3rd parties such as custodians, prime brokers, etc.
  • Monitor reconciliation reports and explore overlap in checks to streamline processes.
  • Discern high priority items throughout the day and action accordingly; implement additional checks where needed & provide training to the team.
  • Monitor KPIs and provide solutions for improvement.
  • Remain familiar with back-up procedures when system applications and/or transmission problems arise. Assist with trouble-shooting.
  • Build cooperative and professional internal/external relationships achieving group and client goals. Utilize all available resources throughout STT.
  • Succeed in a global & dynamic environment, including interacting with clients.
  • Cover various management functions and desk coverage when necessary.
  • Take ownership of issues to resolution, engage teams as needed to gain consensus.
  • Escalate issues and complete assigned tasks timely.
  • Engage as required on operational control framework checks applicable to internal middle office teams.

What we value

These skills will help you succeed in this role

  • Strong problem solving skills.
  • Strong verbal and written communication skills particularly with customers.
  • Excel ability (pivots, vlookups, etc) and familiarity in working with large volumes of data.

Education & Preferred Qualifications

  • Strong background in the financial services industry is important for this role with substantial managerial capacity – either handling a large client relationship or a team of staff, or equivalent.
  • Ideally 1 to 3 years of back/middle/front office involvement.
  • Previous experience with TLM/ RKS/ ESP a plus.
  • Previous experience with SQL and/or Python a plus.
  • Knowledge of securities language preferred.
  • Strong interpersonal, organizational and attention to details skills are required.
  • Strong written and verbal communications are required.
  • Must be deadline oriented with proven ability to provide expertise to resolve daily problems.

Additional requirements

About State Street

What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.

Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary in locations, but you may expect generous medical care, insurance and savings plans among other perks. You’ll have access to flexible Work Program to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.

Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspective are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome the candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift program and access to employee networks that help you stay connected to what matters to you.

State Street is an equal opportunity and affirmative action employer.

COVID-19 Protocols:  Complying with State Street’s COVID-19 protocols is a condition of employment. Those requirements may vary depending on circumstances and legal requirements, and may include, without limitation, a requirement to be vaccinated (or have an accommodation), to disclose vaccination status, to provide evidence of vaccination status, etc.

For further information, and to apply, please visit our website via the “Apply” button below.

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